nVent Electric PLC (NYSE:NVT) Insider Sara E. Zawoyski Sells 22,109 Shares of Stock

nVent Electric PLC (NYSE:NVT) insider Sara E. Zawoyski sold 22,109 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total value of $1,979,639.86. Following the transaction, the insider directly owned 66,640 shares in the company, valued at $5,966,945.60. This trade represents a 24.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

nVent Electric Trading Up 0.4%

Shares of NVT opened at $90.06 on Thursday. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $91.52. The firm has a market capitalization of $14.49 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $73.45 and its 200 day simple moving average is $64.35.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $963.10 million during the quarter, compared to the consensus estimate of $906.96 million. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%. nVent Electric’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Saturday, January 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, July 18th. nVent Electric’s dividend payout ratio is presently 22.79%.

Analysts Set New Price Targets

A number of research firms have commented on NVT. The Goldman Sachs Group lifted their target price on nVent Electric from $78.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Royal Bank Of Canada boosted their price objective on nVent Electric from $85.00 to $102.00 and gave the company an “outperform” rating in a report on Monday. Citigroup boosted their price objective on nVent Electric from $69.00 to $86.00 and gave the company a “buy” rating in a report on Monday, July 14th. Wall Street Zen raised nVent Electric from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, Barclays reaffirmed an “overweight” rating on shares of nVent Electric in a research report on Monday. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $87.00.

Hedge Funds Weigh In On nVent Electric

Large investors have recently made changes to their positions in the business. Capital Research Global Investors acquired a new position in nVent Electric in the fourth quarter worth about $384,749,000. Nuveen LLC acquired a new stake in shares of nVent Electric in the first quarter valued at about $229,615,000. William Blair Investment Management LLC increased its position in shares of nVent Electric by 29.5% in the second quarter. William Blair Investment Management LLC now owns 3,113,936 shares of the company’s stock valued at $228,096,000 after acquiring an additional 709,464 shares during the last quarter. Clean Energy Transition LLP raised its holdings in shares of nVent Electric by 6.8% in the 1st quarter. Clean Energy Transition LLP now owns 2,260,068 shares of the company’s stock valued at $118,473,000 after purchasing an additional 144,403 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock valued at $151,017,000 after purchasing an additional 1,953,026 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.